60-Plus Delinquencies

It's like the yellow light of home mortgage dead-beatism. You're not yet 90 days late, at which time the foreclosure process begins. You're just much later than the 30 days at which you received a nastygram from the bank. Or their collection agency. Loans 60 days in arrears have a very high rate of becoming 90 days in arrears, so for large packagers of mortgages inside of CMOs, this 60-Plus number is a big data point on their naughty list sent to Santa each year.